Freestar Technology's Rahaxi P00rocessing Oy. Signs Exclusive Contract with UK-based Thyron Systems to Supply Portable Emv-compatible Payment Terminals in Finland

Freestar Technology's Rahaxi P00rocessing Oy. Signs Exclusive Contract with UK-based Thyron Systems to Supply Portable Emv-compatible Payment Terminals in Finland

March 20, 2006

    SHANGHAI, March 20 /Xinhua-PRNewswire/ -- FreeStar
Technology Corp. (OTCBB: FSRT), an international card
payments processor and technology company, announced last
week that its Finnish-based, wholly owned subsidiary,
Rahaxi Processing Oy., has agreed to supply portable
EMV-compatible payment processing devices from Thyron
Systems Ltd., a UK-based provider of mobile payment
processing devices that are EMV-compatible, to be used in
Finland.

    The company reported that Thyron Systems's mobile
payment processing devices are very popular because they
can be used in restaurants, taxis and buses.  They are
currently being used in the licensed taxis from Heathrow
Airport, the high-speed rail link between central Stockholm
and the city's main airport.and by British Airways to supply
electronic cash reimbursements to customers.  

    Thyron Systems mobile devices will be the most
full-featured portable payment terminals to be available in
Finland.  Thyron has the longest lasting battery of all its
competitors and therefore is the best-suited terminal for
the market. It also has the smallest footprint terminal of
its kind, easy to hold, back-lit pad, optional touch screen
and it comes with a charging cradle and a top quality
printer, the company explained.

    Thyron Systems terminals are called Chip & Pin
(C&P) devices because the terminal reads the chip in
the EMV-compatible credit or debit card and the cardholder
enters a pin number to identify himself.  This
identification and security methodology reduces card
transaction fraud.

    FreeStar Technology President and CEO Paul Egan said,
"We are pleased to introduce C&P technology to
Finland and we expect that it will help Rahaxi Processing
make dramatic gains in market share in Finland.  

    Garrett Clifford, sales manager, Thyron Systems, said, 
"I am delighted that Rahaxi Processing has chosen
Thyron Systems to be its sole supplier in Finland of
portable card payment devices. Rahaxi Processing holds a
significant share of the Finnish market and has a clear
understanding of the market requirements. Thyron looks
forward to supporting Rahaxi in its aim to enable
cardholders to make payments in an increasing variety of
locations and environments." 

    About FreeStar Technology Corp.

    FreeStar Technology Corp. is a payment processing
company. Its wholly owned subsidiary Rahaxi Processing Oy.,
based in Helsinki, has a robust Northern European BASE24
credit card processing platform. Rahaxi currently processes
in excess of 1.3 million card payments per month for such
companies as Finnair, Ikea and Stockman. The company, based
in Dublin, Ireland, maintains satellite offices in Santo
Domingo, Dominican Republic, Helsinki and Geneva. For more
information, please visit http://www.freestartech.com and
http://www.rahaxi.com .
 
    About Thyron Systems Ltd.

    Thyron Systems Ltd, a UK-based company with an
established pedigree in the mobile payment sector,
specialises in the creation and development of cost
effective payment solutions to businesses in the retail,
hospitality and transportation space. Located just north of
London in Watford, Thyron is an independent privately owned
company, which has increased its presence in several
mainland European territories in recent years. Thyron has
worked with the major UK and Irish acquiring banks during
the recent roll out of Chip and Pin in both locations.  For
more information, please visit http://www.thyron.com .
 
    Forward Looking Statements

    Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the
safe harbor created by those rules. All statements, other
than statements of fact, included in this release,
including, without limitation, statements regarding
potential future plans and objectives of the companies, are
forward-looking statements that involve risks and
uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and
future events could differ materially from those anticipated
in such statements. Technical complications that may arise
could prevent the prompt implementation of any
strategically significant plan(s) outlined above. The
companies caution that these forward-looking statements are
further qualified by other factors including, but not
limited to, those set forth in FreeStar's Form 10-KSB
filing and other filings with the U S. Securities and
Exchange Commission (available at http://www.sec.gov ).
FreeStar undertakes no obligation to publicly update or
revise any statements in this release, whether as a result
of new information, future events, or otherwise.

    For more information, please contact:
 
    Investor Relations

     Arun Chakraborty
     Stern & Co. 
     Tel:   [phone]
     Email: [e-mail]
  
     Paul Egan
     FreeStar Technology Corporation
     Tel:   [phone]
     Email: [e-mail]

SOURCE  FreeStar Technology Corp.